Gold rushes to new high as Asia stocks mixed / Photo: DAVID GRAY - AFP/File
-
Authorities to identify Montauk Mary and five other Long Island cold-case victims
-
Davante Adams injury deepens Los Angeles Rams receiver shortage
-
Barbie sequel negotiations stall over reported $25 million pay packages
-
João Franco’s earlier post draws attention after arrest over fatal Turkey brawl
-
Bath & Body Works launches buy-one-get-one-free candle offer
-
Alberta Launches $5M Fund for Women’s Neurology Research to Address Gender Gaps
-
Itlu Arjuna receives U/A certificate ahead of theatrical release
-
Dhananjaya de Silva guides Sri Lanka to 221-4 against Pakistan
-
Niraj Kumar earns Los Angeles Olympic quota with 50m rifle bronze
-
Delhi gold loses Rs 800 while silver falls Rs 5,000
-
India extends micro-credit guarantee plan for five years
-
Madlanga Commission Deadline Extended to 2027 Amid Calls for Structural Justice Reform
-
Pradeep Antony, Smeha Manimegalai portray secret spouses in Mr & Mrs Office
-
Zelenskyy arrives in Dublin for meetings on Ukraine and peace efforts
-
Woman barred from every Greggs outlet after series of offences
-
Jury hears social-media image helped identify teen in Scarlett Faulkner case
-
Ketchup packets link suspect to break-in at Eddie Rocket’s restaurant
-
American Airlines passenger falls ill and vomits on three travellers
-
US Inflation Broadens as Fed Officials Consider Faster Rate Hikes
-
Spain's General Strike Links Housing Crisis to Lost Purchasing Power
-
Euro-Area Inflation Reaches 4% as Energy Prices Jump
-
China's Factory Inflation Accelerates While Consumer Demand Stays Weak
-
US Adds 165,000 Jobs as Unemployment Falls to 4.1%
-
Bank of England Raises Interest Rate to 4% as Energy Risks Intensify
-
Energy Costs Push OECD Inflation Up to 4.5%
-
OPEC Says Oil Output Is Near Prewar Levels Despite Shipping Disruptions
-
China's Trade Surplus Passes $1 Trillion as Technology Exports Surge
-
China's Singles' Day Exposes Persistent Consumer Caution
-
Irish police prepare for further hoax bomb threats after hundreds of schools targeted
-
RBA Inflation Target Origins: Why Australia Chose a Range Over Zero
-
Korea, Singapore and New Zealand Advance Green Trade Pact Talks
-
Ireland and Ukraine consider drone cooperation memorandum after Dublin talks
-
Sister recounts fatal machete attack as Irish murder trial continues
-
Georgia refrigeration company sues EPA after five-year HFC reprieve
-
HoloCoder technology promises brighter smartphone images and 3D depth data
-
EU proposes broad consumer safeguards for apps, subscriptions and ticketing
-
Early Black Friday Walking Pad Deals: Urevo and WalkingPad Discounts
-
Nvidia faces scrutiny over alleged Chinese intelligence link to Jensen Huang
-
Radical Numerics develops offline AI tool to detect engineered pathogens
-
Chennai orders inquiry after dogs die at shelter; two veterinarians face action
-
Kiara Advani Reveals Sidharth Malhotra’s Reaction to Toxic Backlash
-
Startup turns Chennai’s history and culture into an interactive world
-
Four firms compete to design Chennai’s model mobility corridors
-
PodcastOne (NASDAQ:PODC) Reports Record 1H & Q2 Fiscal 2027 Financial Results; 1H Fiscal 2027 Revenue of $31.5M and Adjusted EBITDA* of $2.9M
-
Tires Easy Introduces Monthly Tire Price Index to Track U.S. Replacement Tire Prices
-
Ondas Posts Record Q3 2026 Revenue of $167.5 Million on Strong Bookings and Backlog Growth; Raises Full-Year Outlook
-
Medical Care Technologies Inc. (OTCID:MDCE) Delivers 270% Net Income Surge in Q3 as Profitability Accelerates
-
Ainos Secures Largest Order in Company History: $9 Million ASE Agreement for 5,000 Additional AI Nose Systems
-
NextTrip Advances Cruise Strategy, Connecting JOURNY TV Programming and Digital Booking Tools with Personalized Travel Advisor Support
-
SMX Targets Global Recycling Challenges With AI-Powered Material Intelligence Platform
Gold rushes to new high as Asia stocks mixed
Gold hit a record high Tuesday as a weaker dollar and expectations of a US interest rate cut made the safe haven an attractive investment.
Stocks, meanwhile, were mixed as investors awaited fresh direction from Wall Street after it was closed on Monday for Labor Day.
Gold reached $3,501.59 an ounce during early trading in Asia, soaring past its previous record of $3,500.10 in April.
"The rally reflects a softer dollar but also strong central-bank and institutional demand as investors rotate out of US Treasuries," said Ipek Ozkardeskaya at Swissquote Bank.
"The share of US Treasuries held by foreign central banks has been declining for over a decade, but that shift into gold accelerated this year amid US debt concerns, ratings downgrades, trade tensions and geopolitical risks," she said.
On equity markets, Tokyo, Seoul and Jakarta were all up, while Hong Kong and Shanghai turned negative after early gains.
On the Hang Seng, Alibaba was down slightly a day after rocketing almost 20 percent following bumper results and a surge in AI revenue.
"While US giants face mounting questions around AI monetization and stretched valuations, Chinese firms are showing tangible earnings lift from AI and cloud," Charu Chanana at Saxo Markets told AFP.
The Japanese corporate world was, meanwhile, rocked by the shock resignation of the CEO of drinks giant Suntory over an illegal drugs probe.
Oil prices moved higher ahead of a weekend OPEC+ meeting to decide on output for October. The cartel is expected to keep supplies unchanged.
- Key figures at around 0700 GMT -
Tokyo - Nikkei 225: UP 0.3 percent at 42,310.49 (close)
Hong Kong - Hang Seng Index: DOWN 0.3 percent at 25,535.03
Shanghai - Composite: UP 0.7 percent at 3,849.79
New York - Dow: Closed Monday for a public holiday
Euro/dollar: UP at 1.1704 from $1.1705 on Monday
Pound/dollar: DOWN at 1.3526 at from $1.3547
Dollar/yen: UP at 148.00 from 147.27 yen
Euro/pound: DOWN at 86.53 pence from 86.57 pence
Brent North Sea Crude: UP 0.6 percent at $68.55 per barrel
West Texas Intermediate: UP 1.6 percent at $65.04 per barrel
O.Karlsson--AMWN